1031.Exchange INTELLIGENCE NETWORK
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REPORTING

Form 8824

Also called: IRS Form 8824 · Like-Kind Exchanges form

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PLAIN-ENGLISH DEFINITION

The federal form used to report like-kind exchanges and certain related information.

What it means in practice.

The IRS instructs taxpayers to use Form 8824 to report each exchange of business or investment property for property of a like kind.

Why it matters.

Exchange documentation and closing statements should be retained for the tax preparer and reporting file.

Additional notes.

The IRS instructs taxpayers to use Form 8824 to report each exchange of business or investment property for property of a like kind.

PRIMARY / REFERENCE SOURCES

Read the source material.

irs.gov ↗irs.gov/forms-pubs/about-form-8824irs.gov ↗irs.gov/instructions/i8824
CONNECTED LANGUAGE

Related definitions.

Tax & BasisBasisA tax measure of investment in property used in calculating gain, loss, depreciation and other tax items.Tax & BasisRecognized gainThe portion of gain included currently for tax purposes.Tax & BasisRelated partyA person or entity related to the taxpayer under federal tax rules.
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